|ONGC Videsh excels with all time high production of oil & gas overseas|
08 April, 2011
ONGC Videsh Limited (OVL), the wholly-owned subsidiary of Oil and Natural Gas Corporation Ltd. (ONGC), has registered a production of 9.433 MMTOE in 2010-11, surpassing the earlier peak production of 8.870 MMTOE of oil and oil equivalent gas in 2009-10. This records highest ever oil & gas production from the overseas assets of OVL so far and sets a milestone in its journey for the quest for oil and gas acreages abroad including acquisition of fields, exploration, development, production, transportation of oil and gas.
ONGC Videsh has the distinction of operating in the harshest environments in the world that are as diverse as deep sea production in Brazil to the extremely cold climate of Russia. Currently, ONGC Videsh Limited has oil and gas production from 9 projects, namely, Russia (Sakhalin-I and Imperial), Syria (Al-Furat Project), Vietnam (Block 06.1), Colombia (Mansarovar Energy Project), Sudan (Greater Nile Oil Project and Block 5A), Venezuela (San Cristobal Project) and Brazil (BC-10).
From a meagre production of just 0.253 MMTOE in 2002-03, OVL has come a long way in having a significant share in ONGC Group’s oil and gas production. OVL is currently present in 32 oil and gas projects in 13 countries across the world. It is working with national oil companies of Myanmar, Sudan, Nigeria, China, Russia, Vietnam, Libya, Iran, Iraq, Egypt, Brazil, Colombia, Malaysia, Syria, Cuba and Venezuela. It has partnership with international majors like Exxon-Mobil, BP, Shell, Total, Repsol etc. in its acreages abroad.